Role of CFOs

The objectives of the workstream is to examine the evolving role of CFOs (or equivalent senior finance roles) within the private or public sector, and identify and understand the ethics issues and challenges faced by professional accountants in business (PAIBs) serving in that role, as well as non-professional accountants (non-PAs) who serve in the same role.

Project Team

Jon Reid

Carla Vijian

Board Advisor

David Wray

IESBA September Meeting Highlights

The IESBA considered and approved the Terms of Reference for its new workstream to gather information on the evolving role of Chief Financial Officers (CFOs) or equivalent senior finance roles within the private and public sectors. Among other matters, the Project Team will:

• Gather information with a view to identifying and understanding the ethics issues and challenges faced by individuals in these roles.
• Consider whether the Code remains fit for purpose in addressing the CFO’s ethical responsibilities.
• Consider the need for NAM or other initiatives.

The IESBA noted that many CFOs are non-professional accountants (non-PAs), reinforcing the importance of understanding the landscape across jurisdictions and sectors, including how jurisdictional corporate governance codes and legal requirements supplement or interact with the Code.

The IESBA agreed to the importance of stakeholder engagement beyond the accounting profession, including corporate governance bodies and company boards, in order to consider whether public interest expectations are addressed consistently among CFOs who are PAs in business and non-PAs.

The IESBA will receive an update from the Project Team at its December 2025 meeting.